University of Houston

The administration can unilaterally limit inverted companies from taking interest deductions in the U.S. or from accessing their foreign cash without paying U.S. taxes, Stephen Shay said in an interview and in an article published today in Tax Notes.

The futures industry has had a tough couple of years, and with each storm there has been a dire warning that people will abandon it in droves. But the futures industry, particularly in Chicago, has faced many challenges and usually comes out the other end stronger through its ability to innovate.

Deep-water oil exploration has been disrupted from the Gulf of Mexico to Brazil by the discovery of faulty bolts used in safety equipment less than three years after the worst-ever U.S. maritime crude spill.

Shares of Chesapeake were underwater after announcing that it is the subject of an investigation over possible criminal antitrust violations related to the purchase and lease of oil and gas properties in Michigan.

Chesapeake Energy Corp. made $5.5 billion in pretax profits since its founding more than two decades ago. So far, the second-largest U.S. natural-gas producer has paid income taxes on almost none of it.